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What Is Growth Value Yield (GVY) Model Stock List?

Our retail research team has created 3 stock lists, namely Growth, Value and Yield.

Some description The Growth List comprises of small-mid capitalisation companies with business catalysts which will potentially grow their earnings in the near future.  The Growth portfolio would be suitable for investors looking for higher returns and are willing to tolerate the risk of higher short-term volatility of stock prices.
Some description The Value List focuses on companies which are undervalued based on their share prices as compared to the company fundamentals. It  would be suitable for conservative investors who prefer price stability and have a longer investment horizon.
Some description The Yield List comprises of stocks that provide consistent dividend pay-out. It would be suitable for investors whose primary focus is to gain regular dividend income from their investments.

 

April Market Overview

The Singapore market suffered a sell down in early Apr due to trade tensions arising from the tit-for-tat tariff threats between US and China, but the STI rebounded higher subsequently as concerns over the trade spat receded.

Banks, in particular, were the biggest gainers in the STI on upbeat earnings prospects. Meanwhile, Keppel Corp, ComfortDelgro, GentingS'pore and SGX rallied on a turnaround in business outlook.

Ytd, the STI logged a 6.2% gain (7.1% inclusive of dividends). But on an unweighted basis, the average return of STI constituents was only 1.1%, suggesting that the index rise was concentrated amongst a handful of heavy weighted stocks.

While the Growth, Value, Yield (GVY) basket of stocks continued to outperform the market with an average ytd total return of 9.3%, the performance was marred by moderating semiconductor industry and customer order outlook in Apr that took the wind out of several tech-manufacturers.

 

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Growth List +18.6% YTD   

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Average total return of the Growth portfolio was shaved by sharp retracement in share prices of Valuetronics and Venture, as both reacted to reports of softer sales by their key customers.

However, the correction in share prices appears to be overdone, and we are retaining the stocks in the portfolio to position for seasonally stronger quarters ahead.

 

Value List -6.6% YTD

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Performance of our property-centric Value portfolio continued to be underwhelming, as they still seemed to lag behind the upturn in the Singapore residential market.

SIIC was a disappointment in the wake of its secondary listing in HK as the China water sector was de-rated and we await its 1Q18 results before reviewing its position in the portfolio.

 

Yield List +2.1% YTD

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The Yield portfolio was also weakened by the de-rating of UMS along with its industry peers, but buttressed by resilient performance of Manulife US REIT.

 

 

Note: * Including dividends
         ** Priced in USD

Disclaimer

This document is not research material and it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research. This document does not necessarily represent the views of every function within Maybank Kim Eng Securities.

This document is being distributed for general information only and it does not constitute an offer, recommendation or solicitation to enter into any transaction or adopt any hedging, trading or investment strategy, in relation to any securities or other financial instruments. This document is for general evaluation only, it does not take into account the specific investment objectives, financial situation or particular needs of any particular person or class of persons and it has not been prepared for any particular person or class of persons.

Opinions, projections and estimates are solely those of Maybank Kim Eng Securities at the date of this document and subject to change without notice. Past performance is not indicative of future results and no representation or warranty is made regarding future performance. Any forecast contained herein as to likely future movements in rates or prices or likely future events or occurrences constitutes an opinion only and is not indicative of actual future movements in rates or prices or actual future events or occurrences (as the case may be).

Maybank Kim Eng Securities makes no representation or warranty of any kind, express, implied or statutory regarding, but not limited to, the accuracy of this document or the completeness of any information contained or referred to in this document. This document is distributed on the express understanding that, whilst the information in it is believed to be reliable, it has not been independently verified by us. Maybank Kim Eng Securities accepts no liability and will not be liable for any loss or damage arising directly or indirectly (including special, incidental or consequential loss or damage) from your use of this document, howsoever arising, and including any loss, damage or expense arising from, but not limited to, any defect, error, imperfection, fault, mistake or inaccuracy with this document, its contents or associated services, or due to any unavailability of the document or any part thereof or any contents.

Maybank Kim Eng Securities, and/or a connected company, may at any time, to the extent permitted by applicable law and/or regulation, be long or short any securities, currencies or financial instruments referred to on this document or have a material interest in any such securities or related investment, or may be the only market maker in relation to such investments, or provide, or have provided advice, investment banking or other services, to issuers of such investments. Accordingly, Maybank Kim Eng Securities, its affiliates and/or subsidiaries may have a conflict of interest that could affect the objectivity of this document. This document must not be forwarded or otherwise made available to any other person without the express written consent of Maybank Kim Eng Securities.

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